'Private sector, the engine of growth'

Ramani KANGARAARACHCHI

Asia is in the midst of a historic transformation but the increasing power of Asia is not fully reflected in the global picture. Senior Vice President Pakistan's Tehreek-e-insaal Party Asad Umar said delivering the key note address at the CIMA Business Leaders Summit 2012 at Cinnamon Grand Hotel on Monday.

Speaking on "Leveraging the Power of Asia" he said the private sector has to be the engine of growth in the country and it is necessary to strengthen private sector companies with skills, innovative infrastructure and education. Developing people is the sustainable way and also great companies need great leaders. If all countries in Asia unleashed untapped potential it will help to reduce the poverty levels of people preventing the rich getting richer.

He said the middle class is competing for jobs in emerging markets and those who have not started must start now. Asian countries must work closely together to deploy an inclusive growth models that translates into better social economic opportunities for the individuals.